Real Estate New Jersey Actual Exam with Answers 2023 1. A home is being purchased for $275,000. The buyer agrees to an 80% loan with the seller paying $5,000 of the buyer's closing costs. What amount will the ...: $55,000 2. A national company desires a parcel of land which must be four times the size of its proposed building. If the building design includes 20,000 square feet ....: B) 2 acres 3. A salesperson is convicted of a crime which involved activities as a real estate licensee. The Commission obtains a certified copy of the .... According to the New Jersey Real Estate license law, the commission MUST:: C) Determine, at its own discretion, what disciplinary action to take against the salesperson 4. The IRS allows a married couple who sell their long-time home to take a tax-free capital gain of up to: C) 500,000

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